Gland Pharma reported a strong Q3 FY26, with revenue up by 22% year-on-year to INR16,954 million. Adjusted EBITDA increased by 25% to INR4,490 million. The company saw broad-based growth across its businesses, including Cenexi, and is confident about sustaining this momentum, supported by upcoming product launches and ramp-up of CDMO contracts. Cenexi achieved revenues of EUR 50 million and an EBITDA of EUR 1 million during the quarter.
Financial Performance Highlights
Gland Pharma showcased a robust performance in Q3 FY26, marked by significant revenue growth and improved profitability. Key highlights include:
- Revenue Growth: Consolidated revenue reached INR16,954 million, a 22% increase year-on-year.
- Adjusted EBITDA: Rose by 25% year-on-year to INR4,490 million, with a margin of 26%.
- Profitability: Adjusted PAT margins were at 16%.
Segmental Performance
The company experienced strong results in both Gland’s core business and Cenexi.
- U.S. Market: Revenue grew by 16% year-on-year to INR8,290 million.
- Europe: Recorded a 54% increase in revenue, driven partly by Cenexi’s 39% top-line growth.
- RoW Market: Experienced a 12% growth, contributing INR1,876 million.
- India: Generated revenues of INR744 million, a 32% year-on-year increase.
- Cenexi: Quarterly revenues stood at EUR 50 million, up 21% in constant currency.
Strategic Investments and Expansions
Gland Pharma is making strategic investments to enhance capabilities and drive future growth:
- Capex Investment: Plans to invest approximately INR2,000 crores over the next 5 years, primarily towards BFS and ophthalmic lines, and CDMO contracts.
- R&D Investments: Invested 5.4% of revenues in R&D, focusing on complex injectables and advanced delivery systems.
- Capacity Expansion: Significantly expanding cartridge fill and finish capacity from 40 million to 140 million units.
Cenexi Turnaround
Cenexi delivered revenues of EUR 50 million and an EBITDA of EUR 1 million during the quarter. The performance improved through focused capacity debottlenecking, contract re-pricing, workforce optimization, and deeper operational integration with Gland Pharma.
Product Pipeline and Launches
The company is focused on strengthening its product pipeline and has achieved several milestones:
- ANDA Filings: Filed nine ANDAs and received four approvals.
- Product Launches: Launched ten new products in the U.S.
Guidance and Outlook
Gland Pharma anticipates a 12%-13% growth rate for the overall company. The company is aiming for a 15% CAGR over the next 5 years organically.
Source: BSE
